I'm in the process of porting my existing standard mortgage to a Buy to Let Bank of Ireland mortgage. I was told by my mortgage that I require a solicitor as part of the process. I had a chat my previous Gravesend conveyancing solicitor who acted on my behalf when I first acquired the premises. The quote e-mailed to me of just over five hundred pounds has surprised me as its a refinance than a sale or purchase.
The estimate does seem a tad on the high side. If you are prepared to spend time scrutinising charges you could trim some of the cost by say £125. On the other hand, providing that you were satisfied with the legal work the firm gave you mightlive to regret choosing an a cheaper solicitor. Remember to check the solicitor can act for Bank of Ireland. You can use our search tool to get a quote a Gravesend conveyancing firm on the Bank of Ireland approved list of lawyers, which can often include conveyancing solicitors in Gravesend.
The owners have rather assertive vendors who has suggested a exclusivity agreement with a deposit two thousand pounds. Are such arrangements appropriate for Gravesend conveyancing transactions?
There are a couple of main drawbacks with signing a lock out agreement (occasionally known as an exclusivity agreement) is that it takes away the focus from moving forward with the conveyancing work, so in the absence of it needing limited or no negotiation then it may transpire to be a cause of frustration and delay. It is not particularly popular amongst Gravesend conveyancing practitioners for this reason. A supplemental negative is the extent of the remedies available - a jilted buyer is extremely unlikely to be issued with injunctive relief to stop the owner selling to a third party, so the only remedy available under the agreement will be the recovery of abortive costs and, in limited situations, the additional payment of damages.
My lawyer in Gravesend has never been on on the Leeds Building Society Approved Panel. Can I still retain my family solicitor notwithstanding that they are excluded from the Leeds Building Society approved list?
Your options are as follows:
- Carry on with your existing Gravesend lawyers but Leeds Building Society will need to use a solicitor on their panel. This will result in additional total conveyancing charges as well as result in delays.
- Find an alternative practitioner to act in the conveyancing, not forgetting to check they are Convince your conveyancer to do everything within their powers to join the Leeds Building Society conveyancing panel
I am buying a new build flat in Gravesend. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here are examples of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Gravesend
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Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. There must be mutual enforceability of lessee’s covenants. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore.
I decided to have a survey carried out on a property in Gravesend before appointing conveyancers. I have been informed that there is a flying freehold aspect to the property. The surveyor advised that some mortgage companies will refuse to issue a mortgage on such a house.
It varies from the lender to lender. Bank of Scotland has different instructions from Birmingham Midshires. If you contact us we can check via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Gravesend. Conveyancing will be smoother if you use a solicitor in Gravesend especially if they are accustomed to such properties in Gravesend.
I only have 68 years remaining on my flat in Gravesend. I now want to extend my lease but my freeholder is absent. What options are available to me?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. However, you will be required to prove that you have used your best endeavours to locate the landlord. In some cases an enquiry agent should be useful to conduct investigations and to produce a report which can be accepted by the court as evidence that the landlord is indeed missing. It is wise to seek advice from a conveyancer both on investigating the landlord’s disappearance and the vesting order request to the County Court overseeing Gravesend.
Gravesend Conveyancing for Leasehold Flats - Examples of Queries before buying
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The prefered form of lease structure is a share of the freehold. In this scenario the tenants have being in charge if their destiny and although a managing agent is frequently retained if the building is bigger than a house conversion, the managing agent retained by the leaseholders. Generally speaking the outlay for major works are not incorporated into the service charges, albeit that some managing agents in Gravesend require leaseholders to pay into a reserve fund and this is used to offset against larger repairs or maintenance.